Hot take: junior PE comp is sold on a promote you statistically will not be around to collect. The MOIC math is real for the GP; for the associate it's a recruiting prop. Tell me I'm wrong, I have time, the IC pushed our meeting again.
Cynical but not entirely wrong. The fix is to treat carry as a lottery ticket and negotiate the cash like the carry is zero.
Disagree. Plenty of us have seen carry pay. It's not guaranteed but calling it a "prop" is recruiter-trauma talking.
Buyouts, portfolios, and the LBO model that refuses to balance. Promote dreams and carry mythology welcome.
＋ New threadMarkets, deals, and the group chat — for people who read the footnotes.